Business Strategy and Growth Analysis for Avionics Market

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Business Strategy and Growth Analysis for
Avionics Market
According to the new market research report
Avionics Market by End User (OEM, Aftermarket),
System (FMS, CNS, Health Monitoring, Electrical
Emergency and Software), Platform (Commercial,
Military, Business Jets General Aviation, Helic
opters), and Region Global Forecast to 2024?,
The avionics market is projected to grow from
USD 68.5 billion in 2019 to USD 86.9 billion by
2024, at a CAGR of 4.86 during the forecast
period. Growth in the retrofit aircraft market
is expected to be a major factor driving the
market. Browse 118 market data Tables and 51
Figures spread through 192 Pages and in- depth
TOC on Avionics Market Global Forecast to
2024 View detailed Table of Content
_at_ https//www.marketsandmarkets.com/Market-Report
s/commercial-avionic-system- market-138098845.htm
l The commercial aviation segment is projected
to grow at the highest CAGR during the forecast
period. By platform, the avionics market has
been segmented into commercial aviation, military
aviation, business jets general aviation, and
helicopters. Among these, the commercial
aviation segment is projected to be the
fastest-growing during the forecast period.
Manufacturers are currently focusing on avionics
components to develop products that are more
reliable, accurate, and efficient. Continuous
improvements in software technology have
modified the human-machine interface of avionics
systems. It has become more user-friendly and
can automate a wide variety of in-flight tasks,
thereby reducing the workload of the flight crew
to a large extent. The software segment is
projected to grow at the highest growth rate
during the forecast period. By system, the
avionics market has been segmented into hardware
and software. Among these, the software segment
is projected to witness the highest growth rate
during the forecast period. In software, a
real-time operating system (RTOS) has a central
role in
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safety and security. Safety-critical systems go
through a rigorous development, testing, and
verification process before being certified for
use. For avionics software and other airborne
systems, the de-facto standard for software
development is RTCA/DO-178C Software
Considerations in Airborne Systems. Enquiry
before buying _at_ https//www.marketsandmarkets.com
/Enquiry_Before_BuyingNew.asp?id13809884
5 North America is expected to lead the market
for avionics during the forecast period. North
America is estimated to account for the largest
share of the avionics market in 2019. The growth
of the avionics market in the North American
region is expected to be fueled by the increase
in the number of deliveries of wide-body and
narrow-body aircraft. The growing demand for
aircraft in commercial applications and their
increasing utility in the defense sector to
carry out transport and surveillance activities
are additional factors influencing the growth of
the North America avionics market. Key Market
Players Some of the major vendors in the
avionics market include Honeywell (US), Esterline
Technologies (US), Curtiss-Wright (US), L3
Communications (US), and UTC (Collins Aerospace)
(US). Dont miss out on business opportunities
in Avionics Market. Speak to our analyst and
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